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20121201
20121231
Search Results 0 to 8 of about 9 (some duplicates have been removed)
1960 onwards, the united states of america recycle 70% of its surpluses to germany and japan. an astonishing number. 70% of the profits in the country were recycled into europe and japan. the marshall plan is a very small part of it. i will not bore you with details. but it was not an act of philanthropy. when they go to washington, it is not a philanthropic act on the pentagon's part to instruct boeing to build. it is pragmatic. the united states federal government -- unless europe is dollarized, unless they do not have dollars to spend purchasing the net exports of those who have surpluses, then they will stop having surplus. this is the surplus recycling mechanism. thus, we have the 20 years of the golden age. the 1950's and the 1960's. a period of immense stability very low inflation. universal growth. we had other problems. the lease from the macroeconomic point of view, it was a golden age. why did it end? because the global surplus of recycling mechanism could no longer be sustained. why? because the united states stopped having a surplus by the end of the 1960's. how
commodity. it could be exchanged for silk in india and the silk exchanged for swords in japan, and those swords would be sold back in england and the whole thing would start again. so the ex-peasant who is now running the show on a small plot of land handed over to him by the landlord would be an entrepreneur. effectively, he borrowed money from the landlord in order to pay for things, and pitiful -- pay for three things. rent of the land, wages in the form of corn, to the ex-peasants who are now wandering in the countryside knocking on doors because they don't have direct access to land. and some machinery, shears for clipping wool. so land, labor, and capital, could be purchased in advance of production, on the basis that the entrepreneur, ex-peasant has to the landlord. so debt comes first, then comes distribution of income in the form of a labor contract. it will work for so many hours and i will give you so much corn. then comes production. it was a combination of this reversal of the order from having production followed by a distribution, followed by debt, to having debt first, t
.s., western europe, and japan. today there are 4 billion people participating in the economy. we have got the same antiquated tax system today that we had 20 years ago. we should be taking the opportunity there to look this thing and say, what does it take to be globally competitive today? yes, i was on the commission, and some might think i like that proposal a lot, which i did. it does not have to be exactly like that, but there are some principles that are a part. -- that are important in there. the whole idea of during individual corporate cap gains, do it all at the same time make sense. the territorial system for companies makes sense, with clauses so that nothing -- nothing screwy happens. then we relook at all these deductions, and we should be looking at do we want all these at a time when our economy needs more flexibility to respond to a very globally different place than we had 20 years ago. it is -- to pass up this -- i think it a shame to pass up this opportunity to actually fix and get the base rates off of a system that has just evolved to chaos. i was heartened by listeni
with anybody in japan about the history. i think we are past that. my whole purpose for being here is to honor the dead, to listen to the living, and to see that this does not happen again. >> in washington, he discusses the inspiration for his trip and his meetings with bomb survivors. >> several governors met with president obama tuesday to discuss the soda ash called fiscal cliff and its impact on states and the economy. -- the so-called fiscal clef. members of the national governors' association spoke to reporters but the white house for about 15 minutes. >> good morning, everybody. i am the chair of the national governors' association, the governor of the telephone, -- of delaware, joined by the governor of oklahoma, the vice chair. and we are also joined by the governors of wisconsin and arkansas. we are three democrats and three republicans. we just had what i would say it was a very good meeting with the president. the issues we face as governors and states are considered as part of the discussions going on in washington. the president was very open. we talked about some of the issues
's big democracies are in gridlock over debt, not just the u.s., india, japan, and the world needs leadership right now. there is a possibility for a robust recovery, not just in the u.s. if the u.s. would exercise leadership here we would lead the rest of the world. we need a market credible $4 trillion deal. while you can't guarantor there would be a big commeck recovery. at the end of the day it increases the probability that that could happen. during the course of that, we need to make sure we a avoid the fiscal cliff and we shouldn't be having this debt ceiling every nine months that does not contribute to market stability. if we're going to have a $4 trillion deal we need certainty in the taxes and the entitlement spending side. both of those things need to happen. markets need to be able to look at it and say it is for certain. when we do look at federal health spending i would like to see a short-term and long-term approach here. on the short-term side of this, there is only one way to get this thing done, it seems to me by december 31 and have any kind of market credibilit
-span at 7:00 a.m. eastern. >> the chief of staff had to make the plan for the invasion of japan without considering the atomic bomb. it was estimated the land on -- would cost 250,000 of our men, and 500,000 on -- >> as harry truman's grandson, i have to choose to honor -- the sacrifice and the sacrifice of american servicemen fighting their way through the pacific and of a little girl who died as a result of the atomic bombing. it is unimaginable what that must have been like to be close to that, to the hypo center, where the blast was strong gusts. >> follow clifton truman daniel on his trip to hiroshima. he discusses meetings of bomb survivors and the inspiration for his trip at 9:00 p.m. eastern. housing secretary shaun donovan today said he could not guarantee the federal housing administration would be able to avoid using taxpayer dollars next year to shore up its home mortgage fund. this senate banking hearing comes after a government report projecting as $16 billion deficit in the f.h.a. the mutual mortgage insurance fund. this is an hour and a half. >> i call this hearing to or
relations as well. over the past year, we reached a major agreements with japan to realign our forces and to really develop guam as a strategic kabul. we have worked to strengthen cooperation with the republic of korea and we began a new marine rotational deployment to australia as well as increased air force cooperation. likewise we are deepening our engagement and developing rotational deployment with allies it -- and partners such as singapore and the philippines and expanding our dialogue and -- in exchanges with china. we are also an handed our presence and capabilities in the region. that includes -- expanding our presence and capabilities in the region. that includes allocating our naval fleet to have a 60/40 s plit between the pacific and atlantic oceans, increasing army and marine presence in the region. locating our most advanced aircraft in the pacific, including new deployments of f- 22's and the mv22's to japan. and lay the groundwork for the first overseas deployment of the f-35 joint strike fighter. the third element of our strategy is that as we do force projection in
, saving money, on shipper nor -- on super nor -- unser premier -- is japan nor -- of entrepreneurship -- on entrepreneurship -- -- turner ship -- trip to north ship -- and entrepreneurship -- entrepreneurship. this president has not proposed one system, one mechanism, one bill, that would equalize that. everybody says we want people to pay their fair share. you ask them what the fair share is, i am not sure. this is a time not to punish, but to get america back. i want to finish with one example. i was in new york two weeks ago. i was in a cab. i got to talking to the gentleman. it turned out he was from west africa. i have been there. this guy had his master's in computer science. he is now driving a cab. if we would quit wasting money, our e economy could get going and he could get back to one of the good jobs he had in the it business. a cab driver gets it. we will not help ourselves by raising $160 billion extra over one year when we have been spending $1.60 trillion. the key is to get spending under control. we can do that, but we will not do it with this administration and the s
Search Results 0 to 8 of about 9 (some duplicates have been removed)